Eli Lilly said on Thursday that it has agreed to buy AtaiBeckley, a clinical-stage biopharmaceutical company developing therapeutics for mental health conditions, for $2.8bn.
Eli Lilly and Company
16 July 2026 14:08:15
Source: Sharecast
AtaiBeckley's lead asset, BPL-003 (mebufotenin benzoate), is a synthetic form of 5-MeO-DMT administered intranasally for treatment-resistant depression, which affects millions of people in the US.
Under the terms of the deal, Lilly will pay $6.75 per share in cash on closing, plus up to $2.50 per share in the form of a Contingent Value Right (CVR) entitling the holder to additional cash payments upon the achievement of specified development and regulatory milestones related to drug programs.
"Treatment-resistant depression persists even after multiple treatments have failed. Millions of people are still searching for relief and desperately need a therapy that works," said Carole Ho, executive vice president and president, Lilly Neuroscience. "Advancing AtaiBeckley's investigational therapies gives us a real chance to change that."
Lily noted that in a Phase 2b study, BPL-003 demonstrated rapid and durable reductions in depressive symptoms following an in-clinic visit lasting approximately two hours on average, with beneficial effects persisting for months.
BPL-003 has been granted Breakthrough Therapy Designation by the US Food and Drug Administration and has initiated Phase 3 activities.
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